Manufacturing of Engine Parts, Piston, Pin, Piston Ring, Valve, Control Cable, Engine Mounting, Auto Lock,......

Description:

Manufacturing of Engine Parts, Piston, Pin, Piston Ring, Valve, Control Cable, Engine Mounting, Auto Lock, Disc Brake, Drum, Gear, Leaf Spring, Shock Absorber, Silencer, Chain, Cylinder Block, Chassis, Battery, Tyre & Flaps.

Automotive Parts Manufacturing Industry. Production of Automobile Components.

Fastest growing major economy in the world with GDP growth rate of above 7%.A growing working population and an expanding middle-class are expected to remain key demand drivers. The growth of global Original Equipment Manufacturers (OEMs) sourcing from India and the increased indigenization of global OEMs is turning the country into a preferred designing and manufacturing base.

Indian Automobile industry is flourishing its twigs worldwide and is close to a fruition of triumph in the global competition. The spine of the industry is its suppliers of auto components and accessories which is also an exclusive industrial segment. Today auto industry is enjoying the benefits while the auto component sector is in its gloom despite of hard efforts of survival. The domestic automobile component industry is expected to grow by 9-11% during FY18 driven by robust growth in domestic passenger vehicles (PV) and two-wheelers segment as well as stable replacement demand. The revenue growth will be also be supported by steady increase in commodity prices and consequent impact on realization.

The growth in the auto component industry will be relatively higher than the underlying growth in the automotive industry in the medium to long term, due to increasing localization by original equipment manufacturers (OEM) s, higher component content per vehicle and rising exports from India.

The auto-components industry accounts for almost seven per cent of India’s Gross Domestic Product (GDP) and employs as many as 25 million people, both directly and indirectly. The Indian auto-components industry can be broadly classified into the organised and unorganised sectors. The Indian auto-components industry has experienced healthy growth over the last few years. Some of the factors attributable to this include: a buoyant end-user market, improved consumer sentiment and return of adequate liquidity in the financial system.

The auto components industry accounts for almost seven per cent of India’s gross domestic product (GDP) and employs as many as 19 million people, both directly and indirectly. A stable government framework, increased purchasing power, large domestic market, and an ever increasing development in infrastructure. India has been an upcoming hub for the auto components industry. The rapidly growing end user market, redesigned consumer sentiment and a clear liquidity in the financial system are said to be the drivers for this.

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